Survey on the Improvement of the Transparency of Reporting in the Romanian Public Sector

Author:Univ. Prof. Pavel NĂSTASE, Ph. D.; Şerban TOADER; Univ. Prof. Cătălin Nicolae ALBU, Ph. D.; Univ. Prof. Aurelia ŞTEFĂNESCU, Ph. D.; Clemente KISS, Ph. D.

JEL:H83, M41

DOI:

Keywords:public accounting, IPSAS, Romania, transparency of reporting

Abstract:
This paper investigates the transparency of reporting by Romanian city and town halls, and the context of the possible application of International Public Sector Accounting Standards (IPSAS) by these institutions. City and town halls play a fundamental role in the management of public funds, and consequently are subject to intense public scrutiny. The study finds significant room for improvement in the transparency of reporting in the Romanian public sector. Only half of the respondents consider that the staff of the entities they are employed are well or very well trained in IPSAS, and most of them believe that IPSAS application would improve the trust in and the transparency of public reporting by these entities. Some of the most important challenges in IPSAS application in Romania identified in this study are the understanding of certain IPSAS concepts, and the choice of the appropriate IPSAS treatment for certain events.\r\n

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